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Search Results 0 to 49 of about 85 (some duplicates have been removed)
MSNBC
Nov 26, 2012 5:00pm PST
in entitlement reform. medicare, medicaid, these are chief drivers of the deficit. there's other spending we have to cut. >> hold on a second. i think that we all know what the chief drivers of our deficit are and have been. our projected deficit has driven by the wars and the bush tax cuts. entitlement programs don't even compete with these costs. plouffe went on to pin the problem largely on republicans who are not flexible, but he also said this. >> where the big bottleneck is republicans in congress around revenue and how much and where does it come from, democrats are going to have to step up and do some tough things. and the notion that somehow that these deficits and our debt are not a threat to our national security on our economic future is something i cannot disagree with more strongly. there are some commentators on the left that suggest that. that we shouldn't deal with that at all. >> voices on the left are not saying the deficit is not a problem for our future. progressives understand we need to deal with our debt, but progressives don't want to see the burden of deficit reduction p
MSNBC
Nov 26, 2012 8:00pm PST
to solve the deficit standoff, people should listen to this guy. plouffe said this is going to get hairy? >> we want to engage in comprehensive tax reform. we also need to engage in entitlement reform. you know? medicare, medicaid carefully, these are chief drivers of our deficit. we made a lot of progress with obama care and there's other spending we have to cut. >> hold on a second. i think we all know what the chief drivers of our deficit are and have been. our projected deficit over the next seven years is driven mostly by the wars in iraq and afghanistan and the bush tax cuts. entitlement programs don't even compete with these costs. plouffe went on to pin the problem largely on republicans who are not flexible on higher tax rates, but he also said this. >> and so where i think the big bottleneck right now is republicans in congress on revenue and how much and where does it come from. democrats are also going to have to step up here and do some tough things. and you know, the notion that somehow that these deficits and our debt are not a threat to our national security and our econo
MSNBC
Nov 24, 2012 3:00am PST
to do something to fix our skyrocketing deficit. our national deficit that he will tell you has been going up and up and up like a rocket and spiraling out of control like a something going out of control and paul ryan is just so right and if congress and president obama do not do something to stop the skyrock edding deficit, to sop up the red ink, if they don't do it by new year's or sometimes whenever the emergency is supposed to happen, we will go flying off the fiscal cliff. and not like these guys who mean to do that, but more like cliffhanger cliff on "the price is right" for whom going over the edge is really a dire mistake. beware the fiscal cliff. you will hear this at the thanksgiving dinner table. when someone inevitably brings up the fiscal cliff and how our sky rocketing deficit is a huge danger to us, do not crawl under the table. do not give up on thanksgiving. help your giant uncle understand that what he is freaking out about is not true. it is easy. there are visual aids that might help. look. first of all, the amount of money borrowed by the government has been goi
MSNBC
Nov 27, 2012 1:00pm PST
, don't worry as much about the deficit, the revenues will come in, and we have to get rid of the social safety net the way it's been, and cut spending, slash spending dramatically. it was very divided policywise and barack obama won pretty handily. >> a week after the election john boehner, speaker boehner, does a press statement and he says we're not going to raise revenues. we should look at loopholes and deductions. >> one thing that hasn't changed and you can put on as many senate republicans as you want looking reasonable. what hasn't changed is the tea party caucus in the house. they've lost a few members, but they're still a majority and john boehner has to find some way to get something past them. that's why i doubt there will be a christmastime deal. i think the president is going to have to let these tax cuts end and then boehner may have a chance of convincing them to pass tax cuts for the bottom 98% without the top 2%. >> do you agree with that, dr. peterson? that the president will be forced to allow these to run their course simply so that republicans in the house won't ha
FOX Business
Nov 27, 2012 7:00pm EST
. let's face it. it's a revenue problem. by definition, a deficit exists because you spend too much, and the president who is the leader of the country, you know, claims that the problem can all be solved by adding more revenue, which seems to me, a fundamental problem because you can keep adding money to the problem, but if the growth grows at such an exponential rate, you don't stop it. nevermind the deficit, you'll never come close to tackling the debt if there's not leadership from the white house on this issue. >> reporter: steven, you covered the issues, and you have for a very long time with distinction. at some point, it seems we're on a carosel of complaints and empirical evidence that does not change and the argument does not change. that is, we have a trillion dollar problem in terms of the deficit, a $16 trillion problem in terms of the debt, and we've got two parties that for all the world are acting as though we think we got 300 million americans in the country too dumb to understand what they've got to do. the only people who don't seem to get it are the republicans a
MSNBC
Nov 28, 2012 9:00am PST
the deadlines we're facing on taxes and deficits. these deadlines are going to be coming up very soon in the coming weeks. but today's important because i want to make sure everybody understands this debate is not just about numbers. it's a set of major decisions that are going to affect millions of families all across this country in very significant ways. and their voices, the voices of the american people, have to be part of this debate. and so i asked some friends of mine here to join me, some folks from here in the area. our ultimate goal is an agreement that gets our long-term deficit under control in a way that is fair and balanced. that kind of agreement would be good for our businesses, it would be good for our economy, it would be good for our children's future. and i believe that both parties can agree on a framework that does that in the coming weeks. in fact, my hope is to get this done before christmas. but -- the place where we already have in theory at least complete agreement, right now, is on middle-class taxes. and as i've said before, we have two choices. if congre
MSNBC
Nov 21, 2012 9:00am PST
's translate that. according to the congressional budget office, falling off the cliff would cut the deficit but stop economic recovery in its tracks. now presidents in both parties usually try to put money in people's pocketses to stimulate the economy. president bush sent taxpayers a refund check while obama has cut payroll taxes. p falling off the cliff is a reversal of that approach. that's why the cbo estimates economic growth would drop under 1% to just .5%. and unemployment could jump over a point to 9.1%. heather, we know the costs, we understand this game because the republicans have been playing it for a while. do you think anything has shifted post-election in way that will actually get a deal done? >> i think what's really come to roost for conservatives has been the fact they were pushing a vision for our economy that included basically just this, except for the tax increases, right. they said starting in 2010, the deficit is the most important thing, it's the most important thing, and now, they're basically faced with immediate deficit reduction and realize, oh, this is actuall
FOX News
Nov 27, 2012 10:00am PST
dollar deficits every year and throw a tantrum if someone suggests that maybe the taxpayers shouldn't keep subsidizing ever last program washington ever dreamed up. they are reckless and ideological approach threatens our very future. and anyone who is serious about solving the problems we face should ignore all of that starting with the president. megyn: meantime some of the president's supporters unleashed and ad blitz targeting key lawmakers reportedly spending close to $300,000 on an ad buy that talks about increasing taxes but leaving spending alone. here is part of that. >> how do we move our country forward and reduce the deficit, by creating jobs and growing our economy not by cutting programs that families rely on most. megyn: join me now is stu varney, who is host of varney & company. and chris stirewalt. you have all the unions unleashing and ad blitz to target the home states of key lawmakers trying to build pressure on them to not agree to any entitlement spending cuts and they are going directly to the american people to sell that message. what do you make of it? >> i
CSPAN
Nov 28, 2012 9:00am EST
said the deficit and the state of american society. that is exactly right. you can look at questions of the budget and questions of infrastructure and immigration policy but above all education policy because this is the future and we are not talking about physical infrastructure but human infrastructure and joel is someone who has dedicated the most recent phase of his multi phase currier to this and when he is not discovering the best restaurants in brooklyn he is focused on improving a lot of young people in this country. so let me tell you how condi is dedicated to this issue. year-and-a-half i called her up and asked her to do something for me and with me. she said i'm too -- don't even go there. we have bet on many football games. before the end of this conversation you are going to agree to what is going to happen and she said no way. we at the council of foreign relations spend our time working on things like china, mexico, all the judicial foreign policy issues and we've moved our agenda and increasingly focusing on things domestic and what we want to do is a report on educa
FOX News
Nov 26, 2012 3:00pm PST
negotiated deficit reduction changes. it includes expiration of the bush era tax cuts that would effect everyone. expiration of the tax cut around for years can be called a tax increase. the nonpartisan budget office would bring in $1 trillion in ten years. on tap, 1.2 trillion in spending cuts for ten years. $100 billion in first year. half to defense programs. half to nondefense. cbo says going off the cliff would lead to a recession next year. we have fox team coverage tonight. ed henry is trying to read tea leaves on a day of mixed signals from all sides but we begin with mike emanuel on the possibility that g.o.p. lawmakers may put their oath of office above a promise to antitax increase organizer. good evening. >> good evening. the republican sources say they are offering a balanced approach of significant spending cuts and some revenue without boosting tax rates. >> we have been responsible as we remain firm on this point. no tax increases now for promised spending cuts that won't materialize later. the american people have seen that game before. they won't be fooled again. >> th
CSPAN
Nov 26, 2012 12:00pm EST
. this agreement cuts the deficit by a trillion dollars, and it lays the groundwork for much more in the near future. we look forward to the work on the committee to make sure that millionaires and billionaires and corporate jet owners and people who have those yachts who get tax benefits, oil companies who get these huge tax subsidies, that that in the mix of thinking what goes on, that's what this select committee's going to be about. we need to do more for families. the number one job we have as a congress must be creating jobs for the american people. we, there are a number of things we're going to do. senator schumer's going to address that in a few minutes as to what jobs agenda we have. today we made sure america will pay its bills, now it's time to make sure that all americans can bay theirs. senator durbin? >> with this vote of 74-26, we have averted a crisis. america has avoided defaulting for the first time in our history on our national debt. the fears and concerns of americans across the board were considered by this congress, and as a result we've come together on a bipartisan b
MSNBC
Nov 27, 2012 8:00am PST
puts forward his plan. how is he going to close the other part of that deficit? you know, his proposal right now, the most he can say would raise would be about $68 billion when our deficit last year was $90 billion. what is the president's plan for closing the additional additional $1 trillion worth of deficit? i think that's incumbent on the president to put forward his plan. >> from your standpoint alone, there's no way you see fit in the coming 35 days that you would break that pledge with glove norquist. >> well, thomas, let's use a couple numbers here. even with this measly economic growth we've seen the last three years, revenue at the federal government has increased $344 billion per year. if we just return to a normal economy that returns about 18.5%, that would increase revenue an additional over $400 billion per year, that's $750 billion of revenue per year through economic growth. and the president, his proposal would raise 1/10 of that but would put at risk the economic growth and that $750 billion. so -- >> sir, with all due respect, though -- >> counterproductive. >> tha
CSPAN
Nov 28, 2012 12:00pm EST
by which additional deficit reduction over a ten-year period would occur. and that process was after the trillion dollars was whacked off -- which it already has be been -- that a super committee of six from the house and six from the senate would deliberate and a majority vote of that committee of 12 could determine additional deficit reduction that would apply over the next ten years. and to give a little incentive for that super committee not to deadlock, the process of sequestration was set up which, in effect, was this meat cleaver that in a nondiscriminate way was going to drop a meat ax approach of another half trillion out of defense and a half trillion out of non-defense discretionary, which nobody wanted. and of which was never contemplated that it was going to go into effect, because the effects were going to be so onerous that surely people of goodwill could come together on a 12-member committee and not deadlock but instead at least one would provide the majority, even if it were only 7-5 out of the 12, because the alternative was so unpalatable. and, of course, we know
MSNBC
Nov 27, 2012 10:00pm PST
to the voters that mitt romney did not. obviously, mitt romney had a huge deficit with african-american voters, hispanic voters and women voters, so i think these potential candidates are trying to map it out. >> david corn, when george w. bush ran, he got such a quick surge in the polls that no one was able to stop him. is jeb bush that guy this time? is he the one that if he makes it clear he's running, others will decide not to? >> you know, i still wonder if two words come to mind. too soon. i mean, the george w. bush presidency is still not held in high esteem amongst many voters who still blame bush for the economic downturn at the end of his administration that has carried us to this day. jeb bush has the ability to talk to hispanic, more moderate, but i also wonder if you know, people will be a little tired of the bush dynasty come to 2016. >> well, they're too tired of it now, but 2016 is a few years away. thank you both for joining me tonight. >>> coming up, good news for democrats trying to keep control of the senate in 2014 and one republican whose strategy for dealing with latino
CNN
Nov 27, 2012 4:00am PST
senator pat toomey from pennsylvania. he was a member of the deficit reduction super committee last year that failed to agree on a plan. but he's been talking about this issue for a long, long time. good morning, senator. >> good morning. >> we just learned that president obama will be traveling to your backyard on friday to talk about the fiscal cliff and spending, and traveling to pennsylvania right now. is this a welcome visit as far as you're earned? >> as far as i'm concerned the president of the united states is always welcome in my state of pennsylvania. we welcome the president and look forward to his message, and i have some questions i'd like to-ish i hope he addresses. >> what questions? >> first of all the president seems absolutely determined to inflict a tax increase on the american people. two years ago he signed a bill that extended the current tax rates for two more years because he said the last thing you want to do is raise taxes in a weak economy. today the economy is weaker than it was two years ago. why in the world does he want to inflict that damage now? >> senato
CNN
Nov 28, 2012 11:00am PST
as republicans have been trying to do since 2005 when we passed the deficit reduction act. >> let me jump to that, because part of the intriguing thing here is the fact that congressman cole, he is doing something that the president said, that post election news conference and that is, you know, extend the tax cut for everyone, but the wealthy, and then, you know, after you get that done, and i don't know if you would be going along with that, but nevertheless, you know, go ahead, talk about this long-term deal that would involve possible cuts as i think you're getting at, you know, cuts to programs like medicare. is that something we could see taking shape here? >> you're talking about getting rid of redundancies. great example, 342 economic development programs that are in the federal government system. let's start cleaning up these redundancies. let's do some of these across the board cuts in discretionary spending. let's make certain that medicare and social security, which are trust funds, not entitlements, they're trust funds, that they meet their obligation to our seniors and near seniors.
CNN
Nov 28, 2012 9:00am PST
on a comprehensive plan to bring down our deficits, to streamline our tax system, to do it in a balanced way, including asking the wealthiest americans to pay a little more so we can invest in training, education, science, and research. now, i know some of this may sound familiar to you because we talked a lot about this during the campaign. this shouldn't be a surprise to anybody. this was a major debate in the presidential campaign and in congressional campaigns all across the country and a clear majority of americans, not just democrats but also a lot of republicans and a lot of independents agreed we should have a balanced approach to deficit reduction that doesn't hurt the economy and doesn't hurt middle class families. and i'm glad to see, if you've been reading the papers lately, that more and more republicans in congress seem to be agreeing with this idea that we should have a balanced approach. so if both parties agree we should not raise taxes on middle class families, let's begin our work with where we agree. the senate's already passed a bill that keeps income taxes from going up
CNN
Nov 21, 2012 4:00pm PST
actually make the deficit picture look a lot worse over the next ten years. that's obviously, you know, that cuts against this narrative. on the other nd, there are a lot of things about the obama care law that are going to be fiscal problems. for example, the law treats people who are on the exchanges really differently from it treats people who get insurance through the employers. so there are aot of those things that probably should be fixed but aren't going to yield big savings in the short term. as a matter of deficit negotiations, i think boehner is not on strong footing. >> interesting. there are a lot of problems with obama care. i think obama would be the first person to acknowledge that. he didn't get a lot of things he wanted in there. but david frum, what is john boehner doing? what is he possibly trying to gain from this? >> okay, i'm going with your crazy luke a fox option. >> good. >> john baner is about to have to bring the more conservative part of his caucus, some very bad news. republicans don't have a wlost leverage. tax cuts expire whether without anybody doing any
FOX News
Nov 26, 2012 5:00pm PST
california owes an astounding $167 billion. and it's running an annual deficit of about 9 billion. money they that can never never be paid back. what is california getting for all of that? high school graduation rate 37 out of 50 states. per capita income, $44,500. but, there is a 10.1% unemployment rate. crime number one. there are more prisoners in california than any other state. take a look at texas. high school ranks 44th. slightly above california. per capita income about 40,000 bucks per year. but there is relatively low unemployment 6.6%. convicts in state prisoners ranked number two behind california. so you can see there is not a big difference in the economic and social stats but there is a big difference in mind set. california has many more social welfare programs. golden state also has many more business regulations. texas, you could pretty much set up any bigness you want. you can also ride a motorcycle without a helmet. talk on the cell phone without a car and on and on. texans basically saying hey, government, get out of our lives. californians on the other hand generall
MSNBC
Nov 27, 2012 11:00am PST
to reduce the long-term deficit, that requires a combination of cuts. it also means asking high income individuals to pay a little bit more. that was a key issue in the campaign. all the exit polls show the american people are on the president's side. the only people who appear to be totally deaf to that are some of the congressional leaders in the republican house and senate. so i think it's important that the president get out and talk to the american people. this is part of the national conversation. this is a very important moment, and so it's important even as the president talks to congressional leaders and he had them down to the white house and continues to be in contact with them, he should engage the american public in this very important national conversation. >> let me ask you, you have a couple of senate republicans who have come out again grover norquist and any kind of notion of a pledge or being held to a lobbyist as opposed to the american people. on the left you have some progressives who are concerned that too many concessions will be made with social security, medic
MSNBC
Nov 28, 2012 8:00am PST
and your party come to this debate with big deficit because you and president bush and dick cheney lied this country into war and you had a lot of lies on foreign policy about wmds. president bush even said once in may 2003 that we found the wmds in iraq. dick cheney and condoleezza rice talked about links to al qaeda in iraq. you've never made up for those huge, serious, significant lies in the arena of foreign policy. and now you're picking apart, you know, basically the very early and ultimately not misleading with regard to foreign policy decisions, statements that this diplomat made. >> one thing we're learning right now the meeting with ambassador rice and senator corker is happening as we speak so a little earlier than that noontime appointment. but the one thing we heard also from senator barrasso in the last hour was john considerry's name floated out and it would be easier for him to sail through. you had the opportunity to work with john kerry before. >> sure. >> when we hear about this, is that really what the game, as joy-ann said, this machiavellian game, basically let's g
FOX News
Nov 25, 2012 11:00am PST
are going to have to look at entitle reform. entitlement. reform is the only way to get the debt and deficit under control. we've got to take it on. >> chris: let me ask you, you say you would consider more revenue but with loopholes -- >> there's so many of them. >> chris: you voted against the bush tax cuts a decade ago because you said too many of the benefits go to the wealthy, not the middle class. once they were passed you have changed your view and said i'm not going to oppose them. it you could get a deal for entitlement reform and take a chunk out of the national debt, why is the 35% top tax rate which you oppose sacred? >> every economist i respect says if you raise tax rates at this time -- the president says that a couple of years ago -- it harms the economy. we're trying to help the economy. unless i'm convinced raising tax rates will be beneficial, obviously i think there's reason and grounds for my position. i also believe that we can and must get an agreement, otherwise i think first of all the markets are going to start reacting. >> chris: we'll talk about that in the next s
MSNBC
Nov 26, 2012 8:00am PST
that his number one focus was jobs and the economy and also having a long-term plan to reduce the deficit in a balanced way and that means in addition to cuts you would also have revenue, revenue that you get by asking higher income earners to pay a little bit more to reduce the deficit and so the president was really clear in the campaign and i think it is really important that he take that discussion to the country now because he has said to the congress, the president said to the congress, just extend immediately all the middle class tax cuts and then we can decide what to do with folks at the higher end. again, it is important to understand the president has proposed that everybody get continued tax relief, existing tax rates, on the first $250,000 of family income, so he says let's extend that for everybody right now, but he believes we should ask higher income individuals to pay a little bit more. >> house majority leader eric cantor was on morning joe talking about the grover norquist tax pledge and whether he like other republicans would be willing to jump ship. here is his answer
MSNBC
Nov 27, 2012 5:00pm PST
of the issues understood the solution to the deficit plan. >> what grows jobs in america are consumers spending money. and the average person needs that $2,000 in his pocket to drive the economy. saying that tax breaks for the rich drive consumers lower down to spend is like saying you could start your car by pouring gasoline on the hood. there's no proof, there's no factual data to support it. it's completely a sham to say that. >> and he's a business owner. we need more members of congress to sound like that. if the president is trying to achieve solidarity on raising the top tax rate, these are the voices that can come through for them with that message in a big way. an owner of an automobile supply company says she supports the plan even if it means her own personal rates will go up. . >> i would have higher tax rates, but r more important and more crucial, the middle class would be spending about $3,000 more. >> harry reid kept the focus on the president's winning campaign message of letting the tax cuts expire on incomes over $250,000 a year. >> the people who have done so well during thi
FOX News
Nov 27, 2012 2:00pm PST
the bush tax cuts for over $250,000 expire, $80 billion. deficit of $1 trillion a year. you are only 18% of the way. you are still missing 82% of the pie here. that is the number. >> dana: two minutes left, can i ask you one other thing. transparency. some on right try to push for negotiations to be in the public and broadcast on cspan. that is a terrible idea. >> brian: it is terrible idea. the only time they dealt with the sleeves up and working deals out, grant you, eric, you are right. the grand compromise. you talk about stimulus and obamacare and the auto bail-out they did it on their own. president was not engaged. he passed it along. i don't care what harry reid says. medicare and medicaid and social security have to be restructured, not fine tuned. obamacare has to be in play. >> eric: you don't want to see it on c-span? i do. >> andrea: you worked on the hill, i did. we worked in washington. the chances of it really happening on c-span would happen in the men's room and the hallways. call each other after the camera left the room. someone brought this idea to me and it's reall
FOX News
Nov 22, 2012 6:00am PST
have to tackle the deficit. it's not only what we spend today, it's what with we owe tomorrow. sessions ha said we know what happened in the stimulus of 2009, $800 million was basically wasted. the president himself admitted the failure. there wasn't enough shovel-ready jobs, and not only that, it did not prevent national unemployment from being below 8%. in fact, it hasn't been below 8% for most of his term as president. so sessions was a shot over the bow to senators and house members, don't be fooling around with the stimulus. we've got to fix spending, and we also have to tackle revenue. but it's not going to be done with you now throwing a huge stimulus that we can't afford. ainsley: jeff sessions says spending will go up. do you agree with that? >> no. and as much as i love mr. smith dose to washington, i don't think one senator should be able to buck the will of the american people. two weeks ago we had an election, and the voters spoke loud and clear. they prioritize job creation over deficit reduction. now, the reality is the two don't have to be mutually exclusive, and i think
FOX News
Nov 26, 2012 6:00am PST
is an integral part of deficit reduction. yes, from my side of the table bring entitlement reform into the conversation. social security, set aside. doesn't add to the deficit but when it comes to medicare and medicaid, protect the integrity of the program but give it solvency for more and more years. martha: alabama republican jeff sessions is the ranking member on the senate budget committee. senator sessions good morning. good to have you here today. >> martha, thank you. martha: a lot of talk this morning after these sunday shows and watching both sides talk about this fiscal cliff about who seems to be moving and in what direction. what are you hearing, what are you hearing from lindsey graham who says, quote he is willing to break that pledge on taxes under certain circumstances? what are they really saying? >> i'm not sure what they're saying. there's a lot of this talk going on. i don't know who is speaking for the republican party. the house of representatives where you have a substantial republican majority but the truth is that this country does not need to go through t
FOX News
Nov 22, 2012 9:00am PST
the typical washington show game and take a few bills. if we want to cut the budget deficit we have to look at everything that's been passed and make decisions against each of those. if obama-care is the most important policy considered its survives. if there are other things being considered it doesn't survive. that's the only way to approach cliff that's running out very quickly. rick: if there is a deal spending cuts have to be put on the table and obama-care cost a lot of money. >> that's not true. it cuts the deficit in a 10-year period and even more so over 20 years. john boehner said in his own op-ed that he tried two different ways to get rid of obama-care, going to the supreme court and in the election. they tried 33 times to repeal obama-care in the congress and failed all 33 times. the bottom line is now we have obama-care. it is the law of the lands. we need to take the off the table and focus on the bush tax cuts which american voters decided they want to keep for people under $250,000 and they want to get rid of for people making more than $250,000. rick: obama-care lowers the
FOX
Nov 26, 2012 2:00am PST
the debt and deficit under control. and we have to take it on. >> chris: but let me ask you. you say you would consider more revenue but through loopholes and deductions... let me ask you, you vote against the bush tax cuts, a decade ago, because, and i went back and looked, you said too many of the benefits go to the wealthy, not to the middle class and once they were passed you changed your view and said they have taken effect. i will not oppose them. but, if you could get a solid deal, with, as you call for, spending cuts and entitlement reform and make a major -- take a chunk out of the national debt, why is the 35% top tax rate which you opposed sacred? >> because every economist that i respect says if you raise tax rates at this time, in fact, the president even said a couple of years ago, it harms the economy. we are trying to help the economy. and, so, unless i can be convinced that raising tax rates will be beneficial, then obviously i think there's reason and ground for my position. but, i also believe that we can and must get an agreement, otherwise i think first of all, the m
MSNBC
Nov 26, 2012 1:00pm PST
years. that's significant deficit reduction and you don't have to get into all this michigas as my grandma would say about which loopholes you're going to close. when you go that route you run into the same math problem mitt romney had. there's typically not enough revenue to make up for if the upper -- >> i have seen you do the experiment with the glass and it's wonderful. most americans think washington officials will behave like spoiled children, and warren buffett took the gop to school today, quote, let's forget about the rich and ultra rich going on strike and stuffing their ample funds under their mattresses if, gasp, capital gains rates and ordinary income rates are increased. the ultra rich, including me, says mr. buffett, will forever pursue investment opportunities. so he's calling for a minimum tax on millionaires and billionaires. will republicans listen? >> well, it's a sensible way. if we're going to have a deal, we will have to see some kind of compromise. a minimum tax on people making over $1 million a year can generate a half it trillion in a ten-year scale. if y
Current
Nov 27, 2012 6:00am PST
of the deficit. that's an economic fact. >> we've been open to revenue by closinging loopholes as long as it's tied to spending cuts. >> as long as it's mitt romney's plan. that's what we're for. >> stephanie: what? you're acting like, it's almost like a hostage crisis. like they don't have the gun and are issuing demands. like what? >> what are you talking about? >> stephanie: exactly. mike in philadelphia, you're on the "stephanie miller show." hi, mike. >> caller: hi, steph how are you doing? >> stephanie: good, go ahead. >> caller: eric con tore brought obamacare back on the table. they won't leave that alone. >> stephanie: no, they are just the sorest losers in the world. it's like he won he won at the supreme court he won at the ballot box again moving on, we are not repealing obamacare. like really? the white house warned monday that american consumers will spend $200 billion less if the looming fiscal cliff is not averted and tax hikes are not spread across the board. the economy would take a hit of $500 billion, probably sending the country back boo recession. i get what the white h
MSNBC
Nov 27, 2012 9:00am PST
to solve our fiscal problems. the deficit will essentially go away. the bad side we're in a deep recession and the deficit will go away. this is an economy that can't afford to have 4% of our spending disappear just next year. we'll see a recession next year almost for sure and for certain. so that's the sense in which i think this is something to worry about. we want -- the recovery is faltering right now and we really don't need congress clubbing it over the head again, pushing us back down yet again. >> yet again. justin, thank you, sir, from the university of michigan. great to have you. >> thanks, alex. >> catch one of the key players in the fiscal cliff negotiations right here on "now" when senator patty murray joins us tomorrow at noon eastern. >>> and coming up after their romney nominee received just over a quarter of the latino vote republicans say they're ready to put up when it comes to comprehensive immigration reform. what are they doing about it? so far putting up a lot of window dressing. the display when telemundo's jose diaz-balart joins us ahead. want to try to crack it?
CSPAN
Nov 27, 2012 1:00pm EST
and the deficit. mr. carney says, quote, the american people matter in stopping the fiscal cliff and budget cuts that will take effect in january if congress doesn't act. >> ok. good afternoon, ladies and gentlemen. welcome to the james s. brady white house briefing room, i believe we have some visitor fres this united arab emirate here, i want to welcome you and thank you for being here. i have just a couple of thins i want to announce at the top, some of which you know about, others you may not. today, as enge you know they can president is meeting with small business owners -- let me back up. it is not happening right now. i believe it happens -- 2:30 i'm reliably informed. he'll be meeting with small business owners as part of discussing with them the importance of extending tax cuts for the middle class or 98% of american taxpayers because of the impact that raising taxes on 98% would have on businesses around the country. he will also discuss with them the measures that he has put forward to assist small businesses, including hiring tax credits and the like, that will help the engine of ou
MSNBC
Nov 27, 2012 4:00pm PST
not contributed to the deficit, and it shouldn't be part of the discussion. i think the press office said that the other day. we completely agree with that. we should set social security aside. it is solvent for decades, and by simply kicking in the social security tax above $250,000 you can make it solvent for decades more. so that's less of an issue i think in reality than it is in the long time republican desire to attack it whenever they can. remember, this is a party that tried to put it into the stock market just before the crash. >> i remember. >> so they have a long history of going after social security, and we have to, i think, set it aside. medicare is a more complicated problem because we have a health care system in this country that's immensely expensive, way too expensive, somewhere between $700 billion and $1 trillion a year by most standards, and 40% of that washes back through the federal budget. my position is that if we're going after the old folks on medicare and cutting their benefits, if we're going after the families who have a disabled child who couldn't take care
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